HomeMy WebLinkAboutBy-law 3765/70THE CORPORATION OF THE TOWNSHIP OF PICKERING
BY-LAW NUMBEtt 3765/70
A by-law to raise $100,000.00 to aid in the
construction of tile, stone or timber
drains, and to repeal By-law 3724/69.
The Council of The Township of Pickering, pursuant to The Tile
Drainage act, ENACTS AS FOLLOWS:
1. The Reeve may from time to time, subject to the provisions
of this by-law, borrow on the credit of the Corporation of
the Municipality such sum not exceeding in the whole
$100,000.00, as may be determined by the Council, and may
in the manner hereinafter provided issue debentures of the
Corporation in such sums as the Co?incil may deem proper
for the amount so borrowed, with coupons attached as
provided in section 4 of The Act.
2. Subject to Section 10 of The Tile Drainage Act, when the
Council is of opinion that the application of any person
to borrow money for the purpose of constructing a tile,
stone or timber drain should be granted in whole or in
part, the Council may, by resolution, direct the Reeve to
issue debentures as aforesaid and to borrow a sizm not
exceeding; the amount applied for, and may lend the same to
the applicant on the completion of the drainage works.
3. A special annual rate shall be imposed, levied and collected
over and above all other rates upon the land in respect of
which the money is borrowed, sufficient for the payment
of the principal and interest as provided by the Act.
4. By-Law 3724/69 be and the same is hereby repealed.
by-law read a first and second time this _0._ day of 1970.
By-Law read a third time and PASSED this //,.- day
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of ?2c?tca?- 1970.
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